Agmt08 Tango Graphics, Inc - Laserfiche WebLink

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ORIGINAL SETTLEMENT AGREEMENT AND GENERAL RELEASE ("Tango Graphics, Inc.") This Settlement Agreement and Release ("Agreement") is entered into as of this ,~ day , 2008, by and between the REDWOOD CITY REDEVELOPMENT AGENCY, a p bli body, corporate and politic, duly organized and existing under the laws of the State of i rnia ("Agency"), and Tango Graphics, Inc., a California corporation ("Tango" or "Contractor"). WHEREAS, the Agency, by purchase order, contracted for the production of Directional Signage banners and Theatre Way banners from Tango. WHEREAS, a dispute has arisen between the parties regarding the production quality of both Directional Signage banners and Theatre Way banners required for the Downtown Revitalization and Promotion efforts ("Project"). WHEREAS, the Agency is amenable to accepting new, upgraded banners produced and installed by Tango according to the specifications set forth in Exhibits "A" and "B", attached hereto and incorporated herein by this reference, as satisfaction for the aforementioned dispute. NOW THEREFORE, without admitting liability or fault, the parties wish to resolve the matter as set forth below, and do hereby agree as follows: TERMS 1. The recitals set forth above are true and correct and are hereby incorporated by this reference as if fully set forth in their entirety. 2. The Agency requires production of banners per specifications set forth in Exhibit "A." The specifications shall include the installation of the banners by Tango, and the purchase of all equipment and parts related to the installation, as set forth in Exhibit "A" the Scope of Services and described and depicted in Exhibit "B." 3. The estimated cost for the updated Project provided to the Agency by Tango is Fifteen Thousand Six Hundred Thirty Dollars ($15,630). 4. In lieu of Tango's obligation to correct, reproduce, and reinstall portions of the Project that are no longer valuable to the Agency due to the passage of time, Tango shall provide the products and services set forth in Exhibits "A" and "B". 5. In lieu of the Agency's obligation to pay Tango the balance for the initial production of banners in the amount set forth in the original purchase order, the Agency and Tango have negotiated the new amount set forth above. 6. Tango shall proceed with the Project immediately upon the execution of this agreement, and shall diligently pursue the completion of the Improvements according to the schedules setforth in Exhibit "A". 7. This agreement is subject to the provisions of Part 7 of Division 2 of the California Labor Code (Sections 1720 and following), and Tango and any subcontractor shall pay not less than the specified prevailing rates of wage to all workers employed in performance Settlement Agr Tango Graphics 041508